The Abu Dhabi Securities Exchange’s (ADX) general index jumped 153.86 points, or 3.47%, to close at 4,601.09 points in a week on the back of the UAE cabinet’s last decrees on the foreign shareholding limit and residency’s visas.
Earlier in May, the UAE cabinet announced new decisions including granting some foreign competences and investors 10-year residency visas and lifting the foreign shareholding limit to 100%.
Over the week, the ADX’s trading volume reached 71.04 million shares, while the market’s liquidity hit AED 198.98 million.
The bank’s sector surged 5.69%, as First Abu Dhabi Bank (FAB) soared 8.3% and Abu Dhabi Commercial Bank (ADCB) hiked 7.35%.
The energy sector added 1.04% after Dana Gas grew 2.83% and Taqa gained 6.67%.
In a similar vein, the real estate sector went up 0.56%, as RAK Properties increased by 3.13%.